About this Show

BBC World News

News/Business. Matt Frei, Katty Kay. International issues. (CC) (Stereo)

NETWORK

DURATION
00:30:00

RATING

SCANNED IN
Annapolis, MD, USA

SOURCE
Comcast Cable

TUNER
Channel 78 (549 MHz)

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
528

PIXEL HEIGHT
480

TOPIC FREQUENCY

Us 4, U.s. 3, Oscar Pistorius 3, London 3, James Cook 2, Newman 2, Mr. Chu 2, Union Bank 2, Isis 2, Vermont 2, David Cameron 2, Stowe 2, China 2, Sierra Leone 2, Euros 2, New York 2, Milan 2, Honolulu 2, Britain 2, Ubs 1,
Borrow a DVD
of this show
  WHUT    BBC World News    News/Business. Matt Frei, Katty Kay.  
   International issues. (CC) (Stereo)  

    February 21, 2013
    7:00 - 7:30am EST  

7:00am
>> this is "bbc world news." funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. sony pictures classics. union bank. and fidelity investments. >> your personal economy is made up of the things that matter most, including your career. as those things change, fidelity can help you adjust your retirement plan, rethink how you are invested, and refocus as your career moves forward. wherever you are, a fidelity ira has a wide array of choices that can fit your personal economy. fidelity investments, turn here.
7:01am
>> at union bank, our relationship managers work hard to know your business. offering specialized solutions in the capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations. what can we do for you? >> and now, "bbc world news." >> hello, you are watching "gmt" on "bbc world news." another dramatic twist on the oscar prestorious case. police investigator leading the investigation is facing charges. revelations come as the
7:02am
caribbean fight bail. high unemployment -- as the pair olympian -- paralympian fight for bail. and a hot waters that are home to some very unusual wildlife. also in the program, jamie has a look at the world of business. >> the u.s. markets regulator has told us that libor training and job -- trading should be scrapped altogether. that after all the scandals involving these banks, it simply does not work anymore. ♪ >> is 12:00 noon in london, 7:00 a.m. in london, 2:00 in the
7:03am
afternoon in south africa, where oscar pistorius is back in court for a third day. his lawyers are filing an application for bail as they await trial. after days of claims and counterclaims, there has been another revelation. turns out that this man is himself facing attempted murder charges. nick has the details. >> one of the world's most famous athlete enters court on the third day of his bail hearing. uncertain how the twist in the case could change his chances for custody. under pressure, this man has been revealed to be facing attempted murder charges.
7:04am
>> it came to light yesterday that the prosecution made the decision to charge the investigating officer and the other officers. this happened when the members tried to stop a minibus and fired a few shots at the minibus. >> a nervous smile. the prosecuting agency thinks that the detectives to be dropped from the case. >> that is a decision that the police will have to make. >> this extraordinary turn of events is raising questions about how he became to be in charge of such a case. he was under intense pressure from the defense team in court over the handling of the case so far. meanwhile, oscar pistorius faced the cameras and news that nike
7:05am
has announced suspension of the sponsorship contract with them. -- with him >> let me bring you a quick round up of some other news. a car bomb blew up in damascus. a large plume of black smoke was seen rising over the skyline. the media says the casualties include children of a nearby school. a major football match -- match fixing ring, landing from singapore, his arrest comes as one of the more powerful figures in football gathered for a conference in malaysia. police in portugal said they have seized forged euronotes with a value of 400,000 euros.
7:06am
one man was detained. it is the second big sign of forged euros in the city this month. the british government is considering a plan to divert funds from its 10 billion pound a budget to peacekeeping and other defense related projects. david cameron has been urged to cut aid spending by some members of his conservative party, who say that security is needed before development can take place. critics argued that aid money should not be used to compensate defense cuts. of all the countries to give foreign aid, britain currently sits at no. 3. david cameron has pledged to protect the national income that britain has promised to spend on development. this would equate to $16 billion
7:07am
in 2015, money that may now be used on defense. with me now is our national development correspondent. mark, you know these stories and have traveled around africa where they happen. your initial reaction? >> traditional workers are outraged at the idea that money is earmarked for aid and should now be spent on this project. but there is an overlap here. the classic example would be sierra leone, where the british army in the year 2000 proceeded to retrain the sierra leone army. the thinking was that there simply could not be any meaningful development unless there was security. that retraining of that army was a resounding success, actually. the army and police force that were put in place have partly led to them attracting a very large amount of foreign
7:08am
investment, building lots of new roads and so on. it is a success story and it would not have been if the army had not been retrained. >> critics would say that that is one isolated case. the wider argument, surely, is that if a defense job is to be done, that should come from the defense budget and the eight budget should be on things like schools, hospitals, training lawyers and that kind of thing. >> but they will do. that comes down to the inter- department fights for the department of international development here in britain and the defense ministry. aid agencies are going to be clawing back on whatever money they can. on the ground what affects people, like mali, for example, what really affects people more? the comportment of the army?
7:09am
appalling in many cases. or is it the distribution of fertilizer? the british government has announced that they will attempt to retrain the mali and army. it is a prerequisite. >> at the risk of sounding philosophical about this, does this open the big question about what is aid? >> it does, and that -- let's not go there, it is a whole can of worms. aid is about rich countries feeling good about their relationship with poorer countries, sometimes. it is not necessarily only about helping people. a lot of these workers are very committed people. they do excellent projects and they save lives. do they actually help countries get richer? name me a country that has become richer as a result of aid, i will be surprised if you can. >> think you're a much.
7:10am
more detail on this story, or any of our top news and features, go to bbc.com/news, where you can interact with your comments. you can like us on facebook and give us your opinion. just go to facebook.com/bbc worldnews. we promised jamie with business news. he is here. ace -- a pretty strong libor question. >> the way in which it represented the main interest rate, which all of the big deals are based around. the way it was fixed was from all of the trader's borrowing from one bake to the other. it turns out, of course, that many of them were making it up. they had been told by their friends the they could push it up by one-tenth of 1% or
7:11am
whenever, and they were making money. there was a huge scandal around it. americans are now saying that libor as a benchmark rate should -- does not work anymore and it should be scrapped. they do not know exactly what should replace it, they are still trying to sort out the mess. together they have been hitting some of the world's biggest banks with massive fines. let's look back quickly at who had to pay and how much. " barclays was slapped with a $200 million -- $290 million fine. then there was an international scandal from ubs, agreeing to pay regulators $1.5 billion. earlier on this month are bs was the bank majority owned by the british taxpayer, find $610 million. the boss of the u.s. commodity
7:12am
futures trading commission is currently in london, supervising at the moment. he told the bbc that he thought that rate rigging still occurs and that it needs to be replaced. >> about these three cases, pervasive rigging, we need to go to something that is far better for the public. they cannot be so easily manipulated. we have to really work with the market to move forward to a rate that is based on real transactions. unfortunately, this thing called libor with other sister rates, that is the challenge. how do we move on to something else, possibly moving to replace the rate? >> it might be hard to face sympathy for defense companies, but they are facing hard times. western governments have cut defense spending with their budgets.
7:13am
this feeds through two jobs as well. the u.k. systems have had to lay off over 3000 with pre-tax profits last year falling by some 6%, hit by cutbacks in the u.s.. the european union said that because of this, another 3.5 -- 3500 jobs could go. despite this, the country -- the company has plans for the $1.5 billion share buyback scheme. they say that despite defense spending, there is some hope. >> clearly there will be an impact in what is their largest market outside the u.k.. seeking other markets, they have done well as they move further into the middle east and the far east with new opportunities. for every country that is cutting back on these defense expenditures, another one is
7:14am
actually growing. provided they are responsible nations, the u.k. will be very supportive in pushing its defense base to spiral. >> that is it. >> see you in awhile. goodbye. stay with us here on bbc world news. still to come, the jacuzzi down on the seabed. we visit the jets of scalding hot water in the caribbean, home to some very unusual creatures. there is an on-line debate in china about the trial of a pensioner accused of murdering a doctor and a height of the cultural revolution more than 40 years ago. launched in 1966, the revolution was marked by intense violence against intellectuals and other
7:15am
people who were seen as members of the bourgeoisie. john says the details of the case are slowly filtering out. >> we have only got the most basic of details. we know that the defendant is a man called mr. chu. we do not have his given name, only his family name. we know that the trial is taking place in a district in one of their eastern provinces. as you say, we know that it relates to a crime dating back more than 40 years, which took place in 1967, the murder of a doctorate the height of the cultural revolution. one year after the chairman had begun his decade of violence. mr. chu is accused of murdering his doctor and cutting off his legs before burying him. a pretty brutal crime. the cultural revolution itself is still somewhat of a taboo subject in china. this case has prompted, as you
7:16am
say, online debate, lots of people asking why as few officials were held to account after that very traumatic. in chinese history. this single octogenarian, finding himself on trial. >> a former united states democratic congressman, jesse jackson jr., has pled guilty to misusing about $750,000 of campaign money to fund a lavish lifestyle. he is the son of the famous civil rights leader. top stories this hour -- oscar pistorius fights for bail for a third day, but his sponsors say they are suspending the contract with him.
7:17am
the british government says that some of their 10 billion pound a budget could be diverted to peacekeeping and other defense related projects. with a stagnating economy, high unemployment, widespread corruption, gender inequality, the next leader italy has a long and challenging to do list. the results of the general election are being watched closely throughout europe. italy has the third largest economy of the eurozone and a political deadlock could be damaging. as voters reject reforms, it could threaten the market. it all sounds rather gloomy. voters there are still undecided. traveling around italy, listening to the concerns of people, today we are in the fashion and business capital of milan. >> it is the fashion and
7:18am
business capital, that is right. you do see italy in a steep economic recession and extremely divided. relatively speaking it's still seems okay, but they it -- it is still considered a freezing and biting recession as well. people say that it really matters and they will change their minds. 60% of the voters are unsure or about to change their minds. joining me now is the editor of the [indiscernible] newspaper. we travelled across italy to speak to people from all walks of life. they say that this time it is different. that really matters. >> we are in milan. thousands of people policing the villas. the establishment is really angry. against the political class.
7:19am
>> are we going to see changed? we have seen a lot of people saying that there are too many politicians standing for reelection. your newspaper is owned by the brother of silvio braless county, arguably one of the most well-known politicians of modern times. he is going for it again. what do you think the charges are or the sentiment that is likely to win? >> the problem is not new or not. obviously, he is not new. the problem is the people. it is all contained by the past. in all the past elections, no matter how credible they are
7:20am
now, why would they believe what they did not in the past? iswhat we're seeing in italy a deep distrust of politicians and the press as well. >> as you know, you have around 20%, 50% of the vote. never in the newspaper or traditional media. he is against the traditional media. it is very important, you know? lots of people comport themselves around the politicians. do have the internet newspaper well-established in the country. >> thank you indeed for joining us. of course, how italy decides to vote on sunday and monday matches not only for ordinary italians, but outside the borders as well.
7:21am
this is the third largest eurozone economy in its deepest recession in living memory. >> all right, thank you very much. thank you. scientists exploring the caribbean say they have discovered the deepest example yet of what they call a hydrothermal vent, rising from the seabed it lasts out extremely hot water. the latest discovery was made by a british researcher, james cook. our science editor is on board. >> in the water of the caribbean a ship named after james cook is about to investigate a world that it never imagined. final checks will launch of a machine called isis. this unmanned submarines being deployed to some of the strangest places in the deep ocean. >> as this robotic submarines
7:22am
begins its journey it will be taken straight down 3 miles to the ocean floor. a mission of discovery. >> is going threat -- it is going so deep, it will take three hours to reach the sea bed. the jets of blackwater belting out of the hydrothermal vents are incredibly hot. and they were just discovered by this expedition. live video is relayed back to the control center on board. scientists and engineers are delighted. >> you are humbled. you are all by it. you can revel in the beauty of it. for a few minutes it is not about science.
7:23am
it is about the wonder of this part of our planet, something that has been hidden for so long. >> it is only in the last 40 years that anyone knew that they existed. they acted like miniature volcanoes. in cross section you can see how cold seawater under pressure in the ocean floor is heated up and forced out. and apparently hostile environment home to a highly unusual creatures. the bizarre sights of thousands of white shrimp were jostling in a restless mass. they are thought to be blind and somehow survive by eating bacteria. but obviously they are thriving. a sample was collected and brought back to the surface. researchers want to understand how life has evolved and how the shrimp have acquired something very useful. >> we do not think they have functioning guys, but they have a very unusual organ on the back of their bodies that is like an early warning system for them that tells them when they get too close to the hot fluids.
7:24am
>> the robotic submarines is now on its way back up to the surface. most extraordinary is that every time it dies, it seems to reveal something that no one has ever seen before. these enemies may be a previously unknown species. being able to study by remote control has opened up parts of the world that were inaccessible until now. as the isis made it back, a question was raised. what else is down there, waiting to be discovered? >> amazingly, david can join us now from on board the research boat. david, a fascinating report. i suppose it is again proof of just how little we know about our oceans. >> george, you are right. it is extraordinary.
7:25am
it is often said that we know more about the surface of the moon or mars than we know about the ocean floor of our own planet. scientists keep saying that the more they look, the more they find. this journey of discovery that they are on right now has released -- really surprised them. hydrothermal vents have been rising from the seabed, belching out that dark water. down on the seabed over the last couple of days they were looking around and stumbled across what was now reported as one of the deepest event -- deepest events anywhere in the world. -- vents anywhere in the world. basic curiosity, the human need is to explore and understand what is going on. they all recognize that there is so much about the ocean that is not understood and has not been investigated. they're very proud to be a part
7:26am
of the process. part of discovering this strange, alien world below me. >> how much longer does this project go on for? >> well, they are going to keep diving with the remote operated vehicles over the next few days. it will take them three or four hours to get down to the seabed. they would like to keep it down for 24 hours to maximize the amount of sort of exploring and exploration going on down there. they are hoping to do may be about three more dives before they have to move the ship to another location for another research project entirely. it has become quite interesting area of science for many people. the japanese have come for a look. the americans have made several visits. it is a recognition of months of
7:27am
the scientific world that it is only recently that they have recognized that there is a strange world down there that needs to be explored. they will do more sometime in the future. >> thank you very much. coming up in the next half-hour on "gmt," the ugly side of the beautiful game of football. massive cases of match fixing. in france, british fans have been attacked. see you in a few minutes. we are taking a break. >> funding of this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu. newman's own foundation. fidelity investments. union bank. and united healthcare.
7:28am
7:29am